Question: Pamela s Quilt Shoppe sells homemade Amish quilts Pamela buys the
Pamela’s Quilt Shoppe sells homemade Amish quilts. Pamela buys the quilts from local Amish artisans for $ 240 each, and her shop sells them for $ 410 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Pamela leases her country- style shop for $ 1,600 per month and pays $ 2,100 per month in payroll costs in addition to the sales commissions. Pamela sold 100 quilts in February. Prepare Pamela’s traditional income statement and contribution margin income statement for the month.
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